CryptoQuant: The current demand for Bitcoin is seriously insufficient, and the amount of Bitcoin sold by miners and long-term holders is higher than the amount purchased by new buyers

PANews reported on August 25th that Zeus Network has officially announced a strategic liquidity partnership with Metalpha (NASDAQ: MATH), enabling Bitcoin deposits through APOLLO, the first decentralized application (dApp) on Zeus Network. Metalpha, an institutional asset management firm focused on digital assets, has begun accepting Bitcoin deposits through the Zeus Network on Solana. As part of this partnership, Metalpha will leverage Zeus Network's permissionless infrastructure as a liquidity provider, supporting network security through decentralized verification. The Metalpha team chose Solana to deploy Bitcoin liquidity because of its high-performance DeFi environment and highly active community. By providing Bitcoin to Zeus Network, Metalpha injects liquidity into Solana and strengthens the security of cross-chain Bitcoin transactions, seeking new avenues for sustainable on-chain yield generation. As Solana becomes a major hub for institutional-grade digital asset innovation, Zeus Network is expanding its ecosystem to ensure that Bitcoin liquidity remains fundamental to DeFi growth. Leveraging Metalpha's expertise in structured financial products and risk management, this partnership is expected to enhance the financial capabilities of the Solana network and Bitcoin as an asset, adding fuel to the already booming DeFi market. Justin Wang, co-founder and CEO of Zeus Network, said: “With Metalpha joining Zeus Network as a liquidity provider, we can leverage their experience in digital asset management to continue developing more accessible and scalable Bitcoin liquidity solutions for institutional Bitcoin holders.”

President-elect Donald Trump on Thursday night named venture capitalist and ex-PayPal COO David Sacks as his administration’s “AI and crypto czar.” “In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Trump said in a Truth Social post . “David will focus on making America the clear global leader in both areas.” Sacks will develop a legal framework to provide the clarity the crypto industry has been seeking, he added. https://t.co/DllC6aJYoG pic.twitter.com/Li86cNDuP8 — David Sacks (@DavidSacks) December 6, 2024 PayPal Mafia’s David Sacks Gains Spotlight in Trump’s Crypto and AI Agenda Sacks belongs to Silicon Valley’s “PayPal Mafia,” a group of influential entrepreneurs and ex-PayPal employees like Elon Musk and Peter Thiel. Formed in the early 2000s, this group has shaped the tech industry through successful ventures and investments, leveraging their strong networks and collaboration. He also gained prominence by founding Yammer, which he sold to Microsoft in 2012 for about $1.2b. Reports earlier indicated that the incoming Trump administration considered Chris Giancarlo , former CFTC chair, for the “crypto czar” role. Former Trump Critic Rises as Crypto Advocate and Administration Ally Sacks’ appointment signals that the second Trump administration is rewarding Silicon Valley figures who supported his campaign. Moreover, it indicates that the administration will push for policies generally supported by crypto entrepreneurs. Earlier this year, Sacks became a major Trump booster by hosting a fundraiser in San Francisco for the then-Republican nominee. At this event, tickets went for $50,000 each, with a $300,000 tier that offered perks like a photo with Trump. This represented a stark change for Sacks, who had sharply criticized Trump following the Jan. 6, 2021, Capitol riot. Shortly after, on an episode of his All-In podcast, Sacks stated that Trump was “clearly” responsible for those events and had disqualified himself from national candidacy. In recent years, Sacks has gained prominence as the host of the All-In podcast, co-hosting with investors Chamath Palihapitiya, Jason Calacanis and David Friedberg. In his post, Trump described it as the “top podcast in Tech,” where they discuss economic, political and social issues. This week, Trump named Paul Atkins , a seasoned financial regulator and crypto advocate, to head the SEC. Explaining his choice, Trump called Atkins a “proven leader for commonsense regulations” and praised his stance against overregulating markets.

PANews reported on August 26th that deBridge, a multi-chain interoperability protocol, has integrated Tron, allowing users to swap assets in real time between Tron, Ethereum, Solana, and over twenty other blockchains. This deployment will connect Tron's high-throughput network to deBridge's routing system, enabling low-slippage, MEV-protected transfers. deBridge stated that this integration provides "full-stack interoperability," enabling Tron to integrate with leading ecosystems and supporting complex cross-chain interactions for users to complete within a single transaction.